Mass Foreclosures in Canada`s Future

[GarthChapman]

QUOTE (Bill @ Jan 14 2009, 11:37 AM) I`m a little confused by the subject of this discussion. I have read the article Jack linked to several times and it doesn`t mention Mass Foreclosures anywhere. It actually says "the "most likely outcome" is for markets and credit conditions in Canada to gradually improve as extraordinary measures by central banks and governments take hold", which is slightly different than mass foreclosure.

It does mention a substantial increase in default rates on household debt if global economic conditions continue to deteriorate, but this comes across as a great example of looking behind the curtain and reading the whole article.

Of course all this is just my opinion, the headlines seem to have a different opinion.

The headline`s job is to get your attention so you will read the article, and nothing more. It is often not consistant with the text of the article. And it`s all about selling newspapers. The sad thing is that this technique is successful at getting consumers to move in a herd-like mentality in concert with what the headlines say - a self-fullfilling prophesy designed only for the benefit of the shareholders of the media enterprise.

And you can clearly see that it works - look at the huge number of views and replies to this thread. Sigh...

 

[CalvinPeters]

There is such unpresedented opportunities out here right now I cant even believe it. If you paid too much in 2007 buy more of the same properties for less money and look at it from a dollar cost average approach. Seem simple? I am doing it right NOW. I cant believe that some of the *INSANE* offers I have put out there...have not even been COUNTERED. Times are tough, life sucks...blah, blah, blah...forget that. I am buying like a madman and see 2009 as being such an incredible OPPORTUNITY I shake my head everyday...we are so LUCKY to be living in these times. I will double my (several dozens more) portfolio this year (Lord willing and the creek dont rise) and smile the whole time. If prices HADNT come off...I would not be buying today, no positive cashflow, didnt make any sense. Oh yeah, and since 3/4 of the buildings were bought at HIGH prices in the communities that i am buying in, I am virtually guaranteed that a majority of competitive housing will NOT be sold off below my entry price. (home owners will stay put or rent instead of locking in a loss just to move) So while some of the NaySayers will wax poetic about how we should not be buying in these times, I did the MATH. I am not selling, I am BUYING.

I think that in 5 years we will stand back and with the hindsight of 20/20 review our performance of the last 5 years and wonder..."Did we take advantage of the opportunities that were RIGHT BEFORE OUR EYES?" It is my intention to say...

"Good Lord! Were we ever LUCKY!!!!!!" (tounge firmly in cheek!)

My positive/opptomisitc opinions might not get as many people to read my posts as others...but I just got to come out and say every now-and-again...am I ever BLESSED with these opportunites.

Carry on.

 

[rosecorp]

Great Job.Good Luck
QUOTE (Nukav @ Jan 15 2009, 11:19 AM) There is such unpresedented opportunities out here right now I cant even believe it. If you paid too much in 2007 buy more of the same properties for less money and look at it from a dollar cost average approach. Seem simple? I am doing it right NOW. I cant believe that some of the *INSANE* offers I have put out there...have not even been COUNTERED. Times are tough, life sucks...blah, blah, blah...forget that. I am buying like a madman and see 2009 as being such an incredible OPPORTUNITY I shake my head everyday...we are so LUCKY to be living in these times. I will double my (several dozens more) portfolio this year (Lord willing and the creek dont rise) and smile the whole time. If prices HADNT come off...I would not be buying today, no positive cashflow, didnt make any sense. Oh yeah, and since 3/4 of the buildings were bought at HIGH prices in the communities that i am buying in, I am virtually guaranteed that a majority of competitive housing will NOT be sold off below my entry price. (home owners will stay put or rent instead of locking in a loss just to move) So while some of the NaySayers will wax poetic about how we should not be buying in these times, I did the MATH. I am not selling, I am BUYING.

I think that in 5 years we will stand back and with the hindsight of 20/20 review our performance of the last 5 years and wonder..."Did we take advantage of the opportunities that were RIGHT BEFORE OUR EYES?" It is my intention to say...

"Good Lord! Were we ever LUCKY!!!!!!" (tounge firmly in cheek!)

My positive/opptomisitc opinions might not get as many people to read my posts as others...but I just got to come out and say every now-and-again...am I ever BLESSED with these opportunites.

Carry on.